Playtech has entered into an agreement with global content and systems provider Aristocrat Leisure Limited to acquire Aristocrat Lotteries for €10.5m in cash, subject to certain adjustments and satisfaction of closing conditions.
It is anticipated that closing will occur shortly.
Aristocrat Lotteries is a leading supplier of server-based-gaming and online client server solutions for interactive video terminals in both Norway and Italy. Its TruServ™ platform is well-established and accredited for the Italian market.
Once complete, the acquisition will position Playtech’s land-based operation as one of the leading suppliers of VLT systems in Europe and Latin America, further extending its reach and diversification across key regulated markets. The deal will also enable Playtech’s land-based division to replicate its success in the UK with its Videobet solution, increase market share within the wider global VLT market and create cross-selling opportunities in existing as well as new jurisdictions.
Aristocrat Lotteries is based in Stockholm and is the exclusive server-based gaming provider for Norwegian lottery Norsk Tipping’s VLTs and supplies its system to a major operator in Italy – a key jurisdiction for Playtech. The company has also recently completed a successful pilot project in another well-established regulated European country which, if commercialised, is expected to deliver further revenue opportunities.
Shay Segev, COO and Head of Retail, Playtech, said: “We’re delighted to be acquiring Aristocrat Lotteries, furthering a key element of Playtech’s retail strategy. Playtech’s multi-channel solution means that this content can be deployed across any location and delivered through any device as well as allowing operators to cross-sell their customers into digital channels. This is an excellent deal and further strengthens our leading position to retail operators in key regulated markets, while also creating new opportunities to expand in those territories as well as others. The Aristocrat Lotteries business is led by a first-class management team and has an excellent team of developers. We look forward to working closely with them in the future in order to build and further the results they have already achieved.”